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Forex Signal (Fri, July 02, 8:30 am EST) US NonFarm Employment

Discussion in 'Current Forex Trading Signals' started by Crazy Cat, Jul 1, 2010.

  1. Crazy Cat

    Crazy Cat Former FPA Special Consultant

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    Hi there :)

    This is Crazy Cat with a potentially profitable trading opportunity...

    Friday, July 02 (08:30 New York Time) USA

    We have US NonFarm Employment Change coming out. It is expected to read -75K (and it is still changing). Last month it read +431K.

    This will be a very tricky report to trade because it seems once again no one has a clue what number is going to be. In fact, ForexFactory expects -106K as of the moment I am typing it. -75K or -106K are simply averages, so some economists expect very a negative number whereas some others expect a very positive number. My triggers are based on expected number of -75K and may change if the expected number changes.

    I recommend trading USD/JPY for this report.

    Please read what this indicator means and how it affects the USD/JPY by going to this link: http://www.forexpeacearmy.com/forex...ptions/7400-us-nonfarm-employment-change.html

    The trigger for this indicator is 100. This means that if US NonFarm Employment Change comes out at +25 or better, USD/JPY will probably go up by 50 pips or more in the first 45 minutes of the report. If it comes out at -175 or less, USD/JPY will probably go down by 50 pips or more in the first 45 minutes of the report. If you want to be a bit more aggressive, I think +/- 75K trigger should work as well.

    We will also have US Unemployment Rate and Revision coming out. A deviation of 0.2 on unemployment rate is considered significant but chances are good it will not conflict. Revision is also important and a significant conflict with revision number may mute the move greatly.

    Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.

    To read the after-spike retracement strategy for this report click here: Diamonds Forex Trading System (Trading News After The Spike) - Forex Peace Army Forum

    For example: on June 04, US NonFarm Employment Change came out at +431K, versus an expectation of 535.5K, and USD/JPY went down by around 75 pips. See for yourself what happened by seeing this chart: Forex news trading currency exchange charts

    I highly recommend you study the entire history and charts of this report by following this link:
    Forex News Trading | Details and History for USD Nonfarm Employment Change

    I hope you make some money on this report.
    -Crazy Cat
     
    #1 Crazy Cat, Jul 1, 2010
    Lasted edited by : Sep 8, 2016
  2. West Coast Pips

    West Coast Pips Sergeant

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    The -0.3 deviation for the unemployment rate was very positive for the US economy. Just shows you though that pairs like aud/usd reacted in the opposite way proving this report is risky to trade. However, the yen pairs had very nice bullish spikes and then a complete reversal.
     
  3. dragan lukic

    dragan lukic Recruit

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    Hi,
    I want to share my experience in trading on the news. In most cases, the market starts to work before we are able to see the latest news in the news calendar. If the news is at 08:30, in the calendar will appear after 30 seconds. During that 30 seconds market works. When news appear, the price movement, as a reaction to the news, is almost complete. In most cases, I am not able to play after spike.
    Does anybody else think like me, or find some other options, enter the trade before the news and something like this.
    Yesterday, at U.S. Manufacturing ISN Indes, I saw that USD / JPJ began to work a news 15 min. before, but I did not want to enter the trade until I see the news.
    I don`t know if only I have this problems, or this problems have everybody.
    I will be grateful if someone post any usefull answer about this problem.
     
  4. iska

    iska Recruit

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    At my platform, the price move exactly when the news comes out. Maybe ur time setting ?
     
  5. pipstatic

    pipstatic Recruit

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    how do i know which pair to trade??:eek:oh:
     
  6. dragan lukic

    dragan lukic Recruit

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    Thank you Iska, I will check time on my platform.
     

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